Insurance and financial services in Algeria
Algeria: Insurance and financial services was 2.7% in 2024. ▼ Falling
Insurance and financial services in Algeria, 1977–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of service imports, BoP.
Analysis
In 2024, insurance and financial services in Algeria stood at 2.7%.
That represents a change of down 12.2% on the previous year and up 16.8% over ten years.
Over the whole period, insurance and financial services in Algeria peaked at 8.5% in 1990 and was at its lowest, 1.8%, in 2011.
That places Algeria 160th out of 197 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 35 years of available data.
Insurance and financial services in Algeria, year by year
| Year | % of service imports, BoP | Change |
|---|---|---|
| 1977 | 6.9% | — |
| 1978 | 6.4% | -6.6% |
| 1979 | 6.2% | -3.3% |
| 1980 | 6.7% | +8.1% |
| 1981 | 5.4% | -19.1% |
| 1982 | 6.1% | +12.9% |
| 1983 | 4.9% | -19.7% |
| 1984 | 4.9% | +0.6% |
| 1985 | 3.6% | -26.5% |
| 1986 | 6.0% | +64.1% |
| 1987 | 6.3% | +5.4% |
| 1988 | 7.2% | +15.3% |
| 1989 | 7.0% | -3.7% |
| 1990 | 8.5% | +21.6% |
| 1991 | 8.4% | -0.9% |
| 2005 | 3.5% | -58.8% |
| 2006 | 3.3% | -3.3% |
| 2007 | 3.7% | +9.5% |
| 2008 | 3.5% | -3.5% |
| 2009 | 2.1% | -39.5% |
| 2010 | 2.3% | +9.5% |
| 2011 | 1.8% | -22.5% |
| 2012 | 2.1% | +16.8% |
| 2013 | 2.4% | +13.4% |
| 2014 | 2.3% | -4.5% |
| 2015 | 2.4% | +5.2% |
| 2016 | 2.2% | -11.1% |
| 2017 | 2.7% | +26.5% |
| 2018 | 2.5% | -7.9% |
| 2019 | 2.0% | -19.2% |
| 2020 | 2.6% | +28.4% |
| 2021 | 3.0% | +16.1% |
| 2022 | 3.1% | +3.5% |
| 2023 | 3.1% | -2.2% |
| 2024 | 2.7% | -12.2% |
Algeria compared with similar countries
- Algeria's 2.7% is below the median for upper middle income countries, which is 6.2%, 44% of the median. (55 countries reporting)
- Algeria's 2.7% is below the median for Middle East, North Africa, Afghanistan & Pakistan, which is 6.5%, 41% of the median. (22 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 6.5% | 6.2% | 6.9% | 3 |
| 1980s | 5.8% | 3.6% | 7.2% | 10 |
| 1990s | 8.4% | 8.4% | 8.5% | 2 |
| 2000s | 3.2% | 2.1% | 3.7% | 5 |
| 2010s | 2.3% | 1.8% | 2.7% | 10 |
| 2020s | 2.9% | 2.6% | 3.1% | 5 |
Countries ranked near Algeria
More economy & growth data for Algeria
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 0.9727 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 2.12 Percent per annum (2029)
- Foreign direct investment, net outflows (BoP, current US$), gaps 264,865 BoP, current US$ (2024)
- Foreign direct investment, net outflows (BoP, current US$), per unit 0 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net outflows (BoP, current US$), per capita 0.0057 BoP, current US$ per person (2024)
- Foreign direct investment, net inflows (BoP, current US$), gaps filled 1.23 billion BoP, current US$ (2024)
- Foreign direct investment, net inflows (BoP, current US$), annual 0.9906 % change on previous year (2024)
- Foreign direct investment, net inflows (BoP, current US$), per unit 0.0046 BoP, current US$ per US$ of GDP (2024)
- Foreign direct investment, net inflows (BoP, current US$), per capita 26.2 BoP, current US$ per person (2024)
- Total reserves (includes gold, current US$), annual growth rate -12.66 % change on previous year (2025)
Frequently asked questions
- What is insurance and financial services in Algeria?
- Insurance and financial services in Algeria was 2.7% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest insurance and financial services recorded in Algeria?
- The highest recorded value was 8.5% in 1990.
- What is the lowest insurance and financial services recorded in Algeria?
- The lowest recorded value was 1.8% in 2011.
- How does Algeria rank for insurance and financial services?
- Algeria ranks 160th out of 197 countries with data for 2024.
- Is insurance and financial services rising or falling in Algeria?
- Over the last ten years it is up 16.8%. The long-run trend across the full record is falling.
- Where does this Algeria data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Insurance and financial services (% of service imports, BoP). Statizoid updates them automatically from the source API.
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About this data
Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents. This indicator is expressed as a percentage of service imports which are services provided by non-residents to residents.